BAT Results Presentation Deck

Transforming, Investing and Growing Accelerating New Category growth: ● ● ● Additional 3m Non-Combustibles consumers* to reach 13.5m ● BAT Accelerating volume growth in New Categories in H2 Continued growth and 20bps** value share gain in Combustibles 100bps Margin expansion and c.£430m increase in New Category investment £660m of savings driven by Quantum Free cash flow of £7.3bn generated, 103% operating cash conversion Strong results in a challenging environment *See Appendix A6. ** FMC value share. For share definitions, see Appendix A3. A BETTER TOMORROW 5

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